Travelex Travel Insurance Review

By Damian Tysdal, licensed travel insurance agent since 2006 · Updated 13 September 2026

★★★★★5 out of 5

The lineup was renamed. Ultimate is the plan: $250,000 medical, $1,000,000 evacuation, kids free, cancel for any reason. Essential and Advantage cap cancellation at $10,000 and skip the pre-existing waiver.

Good for

Families: one child 17 and under free per adult on Ultimate
Cruises and international trips on Ultimate ($250,000 medical, $1,000,000 evacuation)
Anyone who needs a long window: 21 days for the waiver, 21 days for cancel for any reason, 21-day free look

Not for

Trips over $10,000 per person on Essential or Advantage (that is their cancellation cap)
Anyone with a pre-existing condition buying Essential or Advantage (no waiver)
Expensive trips relying on cancel for any reason (the refund is capped at $7,500)

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At a glance

Plan	Emergency medical	Evacuation	Cancellation cap	Cancel for any reason	Kids free
Essential	$25,000	$200,000	$10,000	No	No
Advantage	$50,000	$250,000	$10,000	No	No
Ultimate	$250,000	$1,000,000	$50,000	Upgrade, 75% back, up to $7,500	One per adult

Ultimate is the plan. The other two are budget plans with a $10,000 cap, and no pre-existing waiver.

Top reasons to buy

Ultimate: $250,000 of emergency medical, $1,000,000 of evacuation, and one child 17 and under free with each insured adult.
Cancel for any reason on Ultimate refunds up to 75 percent, with a 21-day purchase window, longer than most.
A 21-day pre-existing condition waiver window and a 21-day free look, both generous.
Underwritten by Zurich American, and sold through comparison sites.

Flaws but not dealbreakers

Essential and Advantage cap trip cancellation at $10,000 per person and offer no pre-existing condition waiver and no cancel for any reason.
Advantage’s $50,000 medical and Essential’s $25,000 are thin for a cruise or a trip abroad.
The plan names changed (Travel Basic, Travel Select and Travel America became Essential, Advantage and Ultimate), so older reviews and the names on your old paperwork will not match.

Bottom line

Travelex Ultimate is a plan I am happy to recommend, especially for a family: the kids are free and the limits are top tier. Essential and Advantage are budget plans with a $10,000 cancellation cap and no waiver, so they only fit a small, simple trip. Price Ultimate for your dates and see how it compares.

Full Travelex Travel Insurance Review

Summary: Travelex renamed its plans. What used to be Travel Basic, Travel Select and Travel America are now Essential, Advantage and Ultimate. Ultimate is the one that matters: $250,000 medical, $1,000,000 evacuation, one child free per adult, and a 75 percent cancel-for-any-reason upgrade with a 21-day window. Essential and Advantage are inexpensive because they cap cancellation at $10,000 and leave out the pre-existing waiver. Know which one you are buying.

Compare it against:

Who Travelex is

Travelex Insurance Services has sold travel insurance in the US since 1996 and its plans are underwritten by Zurich American Insurance Company, part of Zurich in North America. It is a stable, well-run company with a reputation for straightforward claims.

The plans

Essential
Cancellation up to $10,000, interruption up to $10,000, emergency medical $25,000, evacuation $200,000, baggage $750, travel delay $600. No pre-existing waiver, no cancel for any reason.

Advantage
Cancellation up to $10,000, interruption up to $12,500, emergency medical $50,000, evacuation $250,000, baggage $1,000, travel delay $1,000. No pre-existing waiver, no cancel for any reason.

Ultimate
Cancellation 100 percent up to $50,000, interruption 150 percent up to $75,000, emergency medical $250,000 ($50,000 for New Hampshire residents), evacuation $1,000,000, baggage $2,000, travel delay $2,000. Pre-existing waiver if bought within 21 days of the first payment. Cancel for any reason available. One child 17 and under free per insured adult.

Travel Med Go
Post-departure only: $50,000 medical and $250,000 evacuation, with no trip cancellation. For trips with nothing prepaid.

The $10,000 cap on the cheaper plans

Essential and Advantage both cap trip cancellation at $10,000 per person. If your share of the trip costs more than that, the excess is not insured no matter what you enter. For a week in Florida that is fine. For a cruise or a two-week trip to Europe it usually is not. And neither plan offers the pre-existing condition waiver, which is the benefit most travelers over 60 actually need.

Ultimate and the free kids

Ultimate is a top-tier plan. The medical and evacuation limits are among the highest in the market, the 21-day waiver window gives you three weeks after your first payment to buy, and one child 17 and under is covered free with each insured adult, provided the child’s trip cost is equal to or less than the adult’s. For a family of four, that is two policies free on a plan with $250,000 of medical.

Cancel for any reason

Ultimate’s cancel-for-any-reason upgrade refunds up to 75 percent of prepaid, non-refundable trip cost, capped at $7,500. It must be bought within 21 days of your initial trip payment and at least 31 days before departure, and you must cancel at least two days before you leave. The $7,500 cap is the detail to notice on an expensive trip.

The free look

Travelex gives you 21 days after purchase to cancel the policy for a full refund (30 days in some states), as long as you have not departed and have not filed a claim. That is longer than most.

How much does Travelex cost?

Ultimate prices like the premium plan it is, though the free-kids benefit can make it the cheapest option for a family. The budget plans are cheap for a reason. Enter your trip once and see all three next to everything else.

Travelex FAQs

Did Travelex rename its plans?

Yes. The current single-trip plans are Essential, Advantage and Ultimate, plus Travel Med Go for post-departure coverage. The old Travel Basic, Travel Select and Travel America names are no longer sold.

Are children free on Travelex plans?

On Ultimate, one child 17 and under is covered free with each insured adult, as long as the child’s trip cost is equal to or less than the adult’s. Essential and Advantage charge for children.

Does Travelex cover pre-existing conditions?

Ultimate waives the pre-existing condition exclusion if you buy within 21 days of your first trip payment, insure the total trip cost, and are medically fit to travel when you buy. Essential and Advantage do not offer the waiver.

Which Travelex plan is best?

Ultimate, for any trip over $10,000 per person, any cruise or international trip, anyone with a pre-existing condition, and any family. Essential and Advantage fit only a small, simple trip.

Summary

Buy Travelex Ultimate or buy something else. It is a strong plan with a family benefit few competitors match. The cheaper plans have a $10,000 cancellation cap and no waiver, which rules them out for most of the trips people insure. Price it and compare.

Before you buy

The pre-existing condition waiver is on Ultimate only, and only if you buy within 21 days of your first trip payment and insure the total trip cost.
Cancel for any reason is Ultimate only, refunds up to 75 percent capped at $7,500, and must be bought within 21 days of the first payment and at least 31 days before departure.
The free-kids benefit is one child per insured adult and the child's trip cost must be equal to or less than the adult's.
You have 21 days after purchase (30 in some states) to cancel the policy for a full refund if you have not departed or filed a claim.

See Travelex priced for your trip, next to 20 other companies

Enter your trip once and every top plan comes back side by side, priced for your dates. Same price as buying direct.

See plans & pricesAbout 60 seconds. Nothing to sign up for.